Israeli storage company Excelero has raised $25 million in a financing round led by Battery Ventures and with the participation of Qualcomm Ventures, Australian venture capital fund Square Peg Capital, David Flynn, Giora Yaron, Shlomo Kramer and Mickey Boodaei. The company has raised $30 million to date including this latest financing round.
Excelero was founded in 2014 by CEO Lior Gal, CTO Yaniv Romem, VP R&D Dr. Ofer Oshri and Chief Scientist Omri Mann. The company has developed a software-defined block storage solution that meets performance and scalability requirements of the largest web-scale and enterprise applications. With Excelero’s NVMesh, customers can build distributed, high-performance Server SAN for mixed application workloads. Customers benefit from the performance of local flash, with the convenience of centralized storage while avoiding proprietary hardware lock-in and reducing the overall storage TCO. The solution has been deployed for hyper-scale Industrial IoT services, machine learning applications and massive-scale simulation visualization.
Gal said, "NVMe SSDs and innovations like 3DXpoint need new scale-out architectures so that IT teams can consolidate resources enterprise-wide into flexible and reliable infrastructures, without compromise. We're proud to receive the ultimate vote of confidence from esteemed strategic investors such as Qualcomm Ventures - leaders who are driving innovation in data center technologies. We look forward to building out our offering and helping enterprises to deploy the hyperscale data center of tomorrow."
"Unprecedented digital data growth demands that enterprises move to new, more scalable storage systems," said Merav Weinryb, Managing Director of Qualcomm Ventures Israel. "Excelero is well positioned to help enterprises, OEMs and channel partners unleash more potential from their data at web scale. This area is ripe for continued innovation, and we’re thrilled to support Excelero’s growth in this space."
Published by Globes [online], Israel business news - www.globes-online.com - on November 7, 2017
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